New York Markets After Hours

Updates, advisories and surprises

(7:04 PM ET) LOS ANGELES (MarketWatch) -- Japan's Panasonic Corp.(JP:6752)
PC, -0.77%
will likely swing back to profit this fiscal year, helped by gains in its solar-cell business, according to a Nikkei news report Wednesday. Expectations call for the electronics-focused conglomerate to post a group profit "in the 50 billion yen [$625 million] range" for the current fiscal year, which ends March 2013, but is tipped to post a ¥780 billion net loss for the 2011-12 year when it reports results Friday, the Nikkei said without citing sources. Sales are seen at ¥8 trillion for both the 2011-12 and 2012-13 years, it said, with demand for solar cells strong, helped by government subsidies, even as Panasonic's flat-panel television business continues to lose money.

MercadoLibre Q1 earnings, sales rise vs year ago

(5:42 PM ET) LOS ANGELES (MarketWatch) -- Argentina-based e-commerce company MercadoLibre Inc.
MELI, +0.70%
late Tuesday said first-quarter net earnings were $19.6 million, or 45 cents a share, on revenue of $83.7 million. A year ago, the company earned $14.1 million, or 32 cents a share, on revenue of $61.5 million. Analysts polled by Thomson Reuters had expected 46 cents a share in earnings on sales of $84.3 million. The company's shares declined 5.3% to $83.29 in trading Tuesday evening.

Demand Media trims losses as sales rise

(4:26 PM ET) SAN FRANCISCO (MarketWatch) -- Demand Media Inc.
DMD, -2.72%
on Tuesday reported a fiscal first-quarter loss of $1.8 million, or 2 cents a share, on revenue of $86.2 million. During the same period a year ago, the provider of online content and social media lost $5.6 million, or 13 cents a share, on $79.5 million in revenue. Excluding one-time items, Demand Media would have earned 7 cents a share. Analysts surveyed by FactSet Research had forecast Demand Media to earn 5 cents a share on $80.5 million in revenue.

Disney profit rises 21% on parks, TV networks

(4:26 PM ET) CHICAGO (MarketWatch) -- Walt Disney Co.
DIS, -1.16%
said Tuesday that its fiscal second-quarter profit rose 21% on improved results at its theme parks and resorts, along with its ESPN and ABC television networks. The entertainment conglomerate said it earned $1.14 billion, or 63 cents a share, compared with a profit of $942 million, or 49 cents, in the year-ago period. Excluding items, Disney said it would have earned 58 cents a share in the latest three months. Analysts polled by FactSet Research were expecting a profit of 55 cents a share on revenue of $9.56 billion.

Dendreon tumbles on sales report

(11:56 AM ET) BOSTON (MarketWatch) -- Shares of Dendreon Corp.
DNDN
tumbled 22% to $9.08 on Tuesday, the day after the biotech firm issued a weaker-than-expected earnings report. Analysts at Leerink Swann on Tuesday cut their rating of the stock to market perform from outperform, citing concerns about future sales growth of the company's prostate cancer therapy Provenge.

Merge Healthcare plunges 40% on business update

(11:01 AM ET) BOSTON (MarketWatch) -- Shares of Merge Healthcare
MRGE, -1.54%
plunged 40% to $2.36 on Tuesday, the day after it reported a narrowed first-quarter loss. Merge also announced that it was dividing the company into two operating groups: Merge Healthcare and Merge DNA.

Perrigo climbs 7% on earnings report, outlook

(10:47 AM ET) BOSTON (MarketWatch) -- Shares of Perrigo Co.
PRGO, -1.61%
climbed in early trading Tuesday after it issued a better-than-expected earnings report and raised its full-year earnings outlook. Perrigo shares were up 7% at $97.10 in recent action.

Synchronoss shares crash on forecast, downgrade

(10:14 AM ET) SAN FRANCISCO (MarketWatch) -- Synchronoss Technologies Inc. saw its shares plunge 24% to $21.47 -- setting a new 52-week low -- after the wireless software company reported first-quarter results and lowered its revenue forecast for the current year. Synchronoss
SNCR, +0.13%
which helps wireless carriers process orders, told investors on Monday that its near-term revenue from AT&T
T, -0.97%
would be hurt as it shifts to a new software platform that provides better automation. Wells Fargo downgraded the stock to a market perform rating following the news, saying "it will take a couple of quarters for investors to regain confidence in the Synchronoss story, which could limit multiple expansion."

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